Guru Calls Greenback Bottom

Goldman Chief Economist Jim O'Neill is calling the dollar “strongly undervalued” against all currencies except the yen. Has the dollar’s decline reached its limit?

The fact that O’Neill said this ahead of the Dec. 11^th Fed meeting is very interesting to me, said Guy Adami. I too believe the dollar is stabilizing.

That might be the case for major currencies but I think the emerging market currencies will continue to dominate the dollar, Tim Seymour added.

The bottom line: Indications this week suggest stability in the dollar, said Dylan Ratigan.

______________________________________________________
Got something to say? Send us an e-mail at [e-mail] and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to [e-mail].

Trader disclosure: On Nov. 29, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (ETFC); Najarian Owns (BSC) Options; (COP) Options; (EMC) Options; (GOOG) Options; (YHOO) Options; Finerman's Firm Owns (UFS), (JWN), (NMX), (NYX), (VCLK), (WMT), (YHOO), Fortis; Finerman's Firm Is Short (SPY), (IWM), (IYR), (IJR), (MBI); Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns (BIIB) Options; Finerman's Firm And Finerman Own (GS); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns (MSFT) Options; Seymour Owns (FRE), (MER), (MS), (YHOO); Seygem Asset Management Owns (AAPL), (INFY), (INTC), (MSFT), (TSL); Seygem Asset Management Is Short (EEM), Charles Schwab Is A Sponsor Of Fast Money